Hardeep Singh Puri, the Union Minister for Petroleum and Natural Gas, stated that the Global Biofuel Alliance, launched by Prime Minister Narendra Modi during the G20 Summit in New Delhi, has garnered participation from 22 countries and 12 international organizations. Puri highlighted that the alliance’s membership is steadily growing. While briefing the media on his Ministry’s accomplishments, Puri shared that with the success of biofuel in India, the country is slowly heading in the direction of biofuel acceptance as a traded commodity.
Union Minister for Petroleum and Natural Gas @HardeepSPuri says a total of 22 countries and 12 international organisations have so far joined the #GlobalBiofuelAlliance launched by PM @narendramodi during the #G20Summit in New Delhi.
He added that with the success of #biofuel in… pic.twitter.com/jx1JoYbqhr
— DD India (@DDIndialive) January 3, 2024
He also informed that blending of ethanol into petrol has resulted in savings of over Rs 24,300 crore of foreign exchange in the supply year 2022-23. Public sector oil marketing companies (OMCs) have saved about 509 crore litres of petrol on account of ethanol blending during the ethanol supply year 2022-23, besides leading to an expeditious payment of about Rs 19,300 crore to farmers.
The number of retail outlets retailing E20 is now more than 9300 and will cover the entire country by 2025, said the Petroleum Minister.
The Minister also talked about CBG blending Obligation (CBO) which will be voluntary till FY 2024-2025 and mandatory blending obligation would start from FY 2025-26.
He said that India has taken global leadership role in Biofuels supply chain with the successful launch of Global Biofuels Alliance (GBA) in September 2023. “India has been successful to promote GBA as a pivotal path in the sustainability journey at COP 28 held in December 2023. GBA is also an important part of India’s agenda in WEF that is scheduled in Jan’2024”, Puri further added.
